Auto Insurance in Schenectady New York – 10 Discounts Consumers are Losing Out On

No one looks forward to paying for auto insurance, particularly when their premiums are too high. With so many companies to choose from, it can be diffult for consumers to locate the lowest price provider.

The purpose of this post is to help you learn how car insurance quotes work and some tips to save money. If you have car insurance now, you will most likely be able to cut costs considerably using these methods. New York vehicle owners just need to learn the tricks to shop their coverage around on the web.

Policy discounts you shouldn’t miss

The price of auto insurance can be rather high, but you may find discounts that you may not even be aware of. Larger premium reductions will be automatically applied when you complete an application, but a few need to be requested specifically before you get the savings. If you aren’t receiving every discount available, you are paying more than you should be.

• Driver’s Ed – Cut your cost by having your teen driver complete a driver education course if it’s offered in school.
• Early Signing – A few companies offer discounts for signing up prior to your current policy expiration. This can save 10% or more.
• Club Memberships – Belonging to certain professional organizations may earn a discount on your policy.
• Federal Government Employee – Simply working for the federal government can save as much as 8% with certain companies.
• Multiple Cars – Insuring all your vehicles on the same auto insurance policy could earn a price break for each car.
• Theft Prevention Discount – Vehicles with anti-theft systems help deter theft and therefore earn up to a 10% discount.
• Driver Safety – Successfully completing a driver safety course can save you 5% or more depending on where you live.
• Passive Restraint Discount – Cars that have air bags and/or automatic seat belt systems can qualify for discounts up to 30%.
• Accident Forgiveness – Some insurance companies will allow you to have one accident before hitting you with a surcharge if you are claim-free for a certain period of time.
• Good Students Pay Less – Getting good grades can save 20 to 25%. The discount lasts up until you turn 25.

It’s important to note that some credits don’t apply to all coverage premiums. Some only reduce individual premiums such as collision or personal injury protection. Just because you may think adding up those discounts means a free policy, auto insurance companies aren’t that generous. Any amount of discount will cut your premiums.

To choose companies with discount auto insurance rates in Schenectady, click this link.

Neighborhood insurance agents

Some consumers would rather talk to a local agent. Good agents can answer important questions and help you file claims. The biggest benefit of comparing insurance prices online is the fact that you can find lower rates and still choose a local agent. Supporting local agencies is important particularly in Schenectady.

To help locate an agent, after submitting this simple form, the quote information is immediately sent to insurance agents in Schenectady who will battle for your insurance coverage. You won’t need to visit any agencies due to the fact that quote results will go to your email. How cool is that?!

The type of insurance agent you choose is important

When searching for a reputable insurance agent or broker, you need to know there are two types of agencies to choose from. Schenectady agents are either captive or independent (non-captive). While both can do a good job, but it’s worth mentioning how they differ because it can impact buying decisions.

Independent Agents (or Brokers)

Independent insurance agents are not locked into one company so they can insure your vehicles with lots of companies enabling the ability to shop coverage around. If your agent finds better pricing, the agent simply finds a different carrier without you having to go to a different agency.

When shopping rates, we recommend you include price quotes from multiple independent agents for maximum quote selection.

Shown below is a short list of independent agents in Schenectady that can give you rate quotes.

Metroland Agency Inc – 2330 Broadway – Schenectady, NY 12306 – (518) 377-2072
Genie Agency – 200 E Campbell Rd – Schenectady, NY 12303 – (518) 355-0045
Hill Agency – 1131 Altamont Ave – Schenectady, NY 12303 – (518) 357-0515
Nationwide Insurance – 1726 Broadway – Schenectady, NY 12306 – (518) 377-2236
F L Falvo Insurance – 1584 Union St – Schenectady, NY 12309 – (518) 393-1388

Agency Captives

Captive agents can only write with one company and examples are AAA, State Farm, Farmers Insurance and Allstate. Captives cannot compare other company’s rates so they have no alternatives for high prices. These agents are very knowledgeable on the products they sell which helps them compete with independent agents.

Below are captive agencies in Schenectady that are able to give price quote information.

State Farm Insurance – 3357 Carman Rd – Schenectady, NY 12303 – (518) 355-5606

For a complete listing of captive agents in Schenectady, view this link.

Deciding on a car insurance agent requires more thought than just the premium amount. Any agent should be forthright in answering these questions:

• How often do they review policy coverages?
• Are you getting all the discounts the company offers?
• Is their price quote a firm figure or are their hidden costs?
• Is vehicle mileage a factor when determining depreciation for repairs?
• If your car is in the repair shop, do you have coverage for a rental car?
• Does the agency provide any after hours assistance?
• Are claim adjusters local or do you have to take your car somewhere else?
• What is the agency’s Better Business Bureau rating?

Once you have positive responses to your questions in addition to an acceptable price estimate, chances are good that you have found an auto insurance agent that will provide auto insurance coverage.

Much more information about auto insurance in New York is available on the website for the New York Department of Financial Services located here. Visitors are able to find disaster information, download brochures, get help finding coverage, and find out industry alerts.

Additional helpful sites include this online resource for free quotes in New York and this page for help finding agents in Schenectady, NY.

Coverages available on your auto insurance policy

Understanding the coverages of a auto insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. These are the normal coverages offered by auto insurance companies.

Collision – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like crashing into a building, hitting a parking meter and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Medical payments and PIP coverage – Med pay and PIP coverage kick in for immediate expenses such as rehabilitation expenses, prosthetic devices and chiropractic care. They are often used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Comprehensive auto coverage – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things like vandalism, fire damage, falling objects, theft and hitting a deer. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage gives you protection when the “other guys” do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your vehicle.

Since a lot of drivers only purchase the least amount of liability that is required (New York limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally these coverages are set the same as your liablity limits.

Liability coverages – Liability insurance provides protection from damages or injuries you inflict on people or other property. This insurance protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 50/100/50 which means a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Another option is a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers things such as medical services, medical expenses, pain and suffering and repair bills for other people’s vehicles. How much coverage you buy is your choice, but you should buy higher limits if possible. New York requires drivers to carry at least 25,000/50,000/10,000 but you should think about purchasing more coverage.

Summing up your auto insurance search

Cheaper auto insurance is attainable online as well as from independent agents in Schenectady, and you need to comparison shop both to have the best selection. Some companies don’t offer you the ability to get quotes online and these small insurance companies work with independent agents.

In this article, we covered a lot of tips how to get a better price on auto insurance. The most important thing to understand is the more rate quotes you have, the higher your chance of finding lower rates. You may even find the lowest priced auto insurance comes from a small mutual company. They may cover specific market segments cheaper than their larger competitors like Progressive or GEICO.